New York State may soon join the growing list of jurisdictions restricting or banning noncompete agreements. On June 7, 2023 the New York State Senate passed S 3100A (the “Bill”), which would prohibit employers from seeking, requiring, demanding, or accepting certain noncompete agreements.
Consider the following scenario that was the premise of the book Charlie and the Chocolate Factory (1964), and later adapted into the classic film Willy Wonka & the Chocolate Factory (1971): your company (Willy Wonka Chocolates) is in the candy business and develops an idea for an everlasting gobstopper (a sucking candy that never gets smaller). Anticipating substantial profits from the product, the company designates the everlasting gobstopper formula as a trade secret. As in the book and film, a rival chocolate company (Slugworth Chocolates) seeks to steal the trade secret ...
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Recent Updates
- Spilling Secrets Podcast: 2024’s Biggest Trade Secrets and Non-Compete Developments
- The Future of Federal Non-Compete Bans in a Trump Administration
- Spilling Secrets Podcast: Beyond Non-Competes - IP and Trade Secret Assessment Strategies for Employers
- Spilling Secrets Podcast: Wizarding and the World of Trade Secrets
- Two Appeals to Determine Fate of FTC’s Noncompete Ban